Potential tenants are showing interest in the latest renovation project in an area already boosted by two recently completed similar projects.
Construction is underway on Phase 2 of Revolution Mill, the renovation of Mill House off Yanceyville Street, just northeast of downtown Greensboro. Nick Piornack of developer Self-Help and general manager of Revolution Mill, told Triad Business Journal that he has four letters of intent from prospective retail and/or restaurant tenants for the four, first floor retail spaces.
Delivery on the building is expected in May or June 2022.
C.T. Wilson of Durham and Greensboro is the general contractor on the $36 million renovation of the five floor, 167,000-square-foot building into a mixed-use facility. The closest building on the campus to Yanceyville Street, Mill House is planned to have two restaurants, retail and office spaces, and 33 apartments.
The plans for Mill House call for a 5,800 SF restaurant anchoring the first floor with a patio over the banks of North Buffalo Creek, which runs along the back of Mill House, separating Mill House from Revolution Mill Apartments. Piornack said he's negotiating for that premier restaurant space with a local tenant.
A $525,000 grant will be used to dredge and widen the creek and build a stronger bank that will allow better access while combating flooding. Big rocks and boulders will be added for cosmetic purposes.
"It will be turned from a liability into an asset," Piornack said of the creek.
An 1,800-square-foot atrium with a skylight is a central feature of the building's interior.
Piornack said two current Revolution Mill tenants have expressed interest in moving to Mill House, taking up to a floor apiece on the three top levels.
The second floor will have office spaces of 7,000 SF and 2,800 SF, plus apartments. The third, fourth and fifth floors will include about 12,600 SF of office space and apartments. Total office space will measure about 60,000 SF.
"There's going to be some really cool architectural features," Piornack said.
Subtracting the atrium and common space, Piornack said Mill House will have about 120,000 SF of rentable space. Revolution Mill and Mill House are managed by Kane Realty of Raleigh.
Mill House won't be the final phase at Revolution Mill, said Piornack, who pointed to the 13 or 14 acres south of the creek, a mostly open space along Yanceyville with a 13,000 SF industrial building at the west end, as the next phase, once Mill House is up and rolling. Self-Help refers to the next phase as the "Olympic" tract. Development there will be mostly new construction, a contrast from earlier phases.